China Shenhua Energy Company (1088) Q4 2024 earnings summary

Executive summary

• Achieved RMB338.4 billion in revenue and RMB62.4 billion net profit attributable to equity holders, with a 3.4% year-over-year decrease in net profit due to lower coal and electricity prices.

• Maintained high operational output: coal production at 327.1 million tonnes, coal sales at 459.3 million tonnes, and power output dispatch at 210.28 billion kWh, all exceeding annual targets.

• Continued focus on integrated operations across coal, power, transportation, port, shipping, and coal chemical segments, with steady progress in green transformation and digital innovation.

Financial highlights

• Revenue decreased by 1.4% year-over-year to RMB338.4 billion; net profit attributable to equity holders fell 3.4% to RMB62.4 billion.

• EBITDA was RMB110.2 billion, down 3.8% year-over-year; basic EPS was RMB3.142.

• Net cash from operating activities rose 4.1% to RMB93.3 billion; total assets increased 4.4% to RMB661.4 billion.

• Final dividend proposed at RMB2.26 per share (inclusive of tax), totaling RMB44.9 billion, representing 71.9% of IFRS net profit.

Outlook and guidance

• 2025 targets: commercial coal production of 334.8 million tonnes, coal sales of 465.9 million tonnes, gross power generation of 227.1 billion kWh, and revenue of RMB320 billion.

• Capital expenditure planned at RMB41.8 billion, focusing on coal, power, transportation, and new energy projects.

• Strategic focus on energy security, green and low-carbon transformation, technological innovation, and high-quality development.